Posted:
November 29, 2017

Senior staff at Petrolia Town Hall presented Town Council with a budget in October proposing a modest 1% tax increase on the municipal portion of taxes for property owners. This proposed increase speaks to the commitment of staff to work as efficiently as possible, and takes into consideration the proposed changes to minimum wage.

The small margin of increase was very challenging and included consideration of the proposed minimum wage increase to $14 per hour for 2018 (approximately $68K increase to the Town’s Operating budget). A facilities maintenance plan has been implemented and broken out to enable better future planning. OMPF (Ontario Municipal Partnership Fund) for 2018 has decreased by $136K. Despite a few financial challenges for the upcoming year, the Town will be able to transfer $856K into working capital reserves (up from 2017’s transfer of $771K).

Part of the 2018 Budget, that passed at the regular meeting of Council Monday night, includes that sewer rates be reduced by 10%, and a further 5% in 2019. Water rate increase will hold steady at a small proposed increase of 2%, which keeps Petrolia as the fourth lowest combined water/sewer rates in Lambton County. This reflects a $2100 savings for the average household over 10 years.

Mayor John McCharles said, “Staff have worked very hard to make sure that the 2018 budget reflects efficiencies, and that it speaks to our greater goals as a Council and staff for effective management of tax dollars.”